Member Info for raaydaar

I think you'll find he can do a "conditional placing" conditional on getting the vote passed

George will now have an idea of how the vote for the 4 billion headroom is going and if it's looking likely he will get the vote on Monday.

Anyone for a 16:35 RNS for a primary bid placing?

Plaserman, there's many ways to disguise buying and selling a share before issuing a TR1 in order to maintain an orderly market

Johnny, I'm not Daz and they'll take Zulu because of what's in the ground. Then they can bring someone in who has the capability of getting it out of the ground at the right grades. Unlike GR who appears to be bumbling along, fat dumb, happy and blind (or ignorant) to everything that's going on around him.

GR is in no position to bargain for anything.

"Oh look Canmax we,ve got SC6 which we promised to supply you with but we're not gonna do that unless you pay us more!" Anyone suggesting anything else is deluded. If he has the grades then why hasn't this deal been signed and the market notified?

Maybe the conversation is more "look guys we can't get SC6 right now, best results we've had back are SC4, we're sure we can make it work but it's gonna take time. Any chance you can give me more time and a few million $, I'll raise a bit as well but most I can get is about $20 Mill gonna need you to stump $20 mill too but I'll give you Zulu as security this time"

RomanWolf, I am invested and own PREM shares.

I have never stated that because GR hasn't said anything that it's bad news. I've stated that he is deliberately avoiding releasing information which shareholders should k ow about by now. Information he has openly stated he should have by now. I draw my own conclusions to his silence knowing GR history of failure and his desire to place at the earliest opportunity despite assurances to shareholders that he has "no intention to raise at this time"

I guess I'll need to keep saying it as Kong as the fanboys don't give all the facts in their ramptastic posts about agreed deals and mysterious suitors ready to step in etc etc.

I prefer to deal in facts rather than misquotes or half quotes and speculation that serve an agenda

George said the deal was verbally agreed in principle, looks to me like there's still stuff to sort out before Sunday otherwise it would all have been signed off by now and we would know about the grades, plant modification progress, onsite lab, predicted volumes etc.

GR silence speaks volumes, much like the precious RNS that the fanboys were told was coming and gonna be good. When it eventually came its wasn't at all good.

Snowking, again the agreement is "in principle" those were the words from GR mouth , not "agreed". There's a caveat here that none of us know about. What is the caveat? My guess is there's more than one, grades being the primary followed closely by volumes. If these caveats cannot be resolved by Sunday, what happens?

George being very quiet right now about grades and plant modifications.

I've had enough dinners with CEOs to know not to believe anything until it's in an RNS.

Until any RNS arrives there's 2 trading days left for anyone in or on the sidelines to make a decison to buy hold or sell. Can you trust George Roach to deliver?

WaffenBurret,

Voting through the headroom won't give GR the option to play hardball with Canmax, 4 billion shares isn't anywhere near enough to raise the funds to repay Canmax with interest and provide PREM with working capital. If Canmax are going to walk away its for a good reason and that same reason likely good enough to stop someone else coming in.

And if its not SC6 or a commercially viable grade? GR silence on grades is deafening!

Canmax haven't sold any because the offtake agreement required them to keep a % holding or reduce their exclusive offtake %. If they walk away they won't be obliged to keep holding their 13% and can sell to help recover the cost of their investment. All being well they sell in an orderly fashion but might dump quickly and get what they can if they decide to walk away.

Canmax did indeed pay millions in prepayment for GR to have a pilot plant built to produce SC6 at a minimum volume (rolling average) which he has so far (at least on volume, we still await grades) failed to do.

Canmax is desperate for SC6 or at least a grade that's viable to ship to China for processing, right now PREM doesn't know the grades, if its not SC6, what grade is acceptable and economically viable for Canmax to ship to China? likely needs SC5 minimum given competitors with grades below SC5.3 process on site or nearby.

CEO did buy shares at 0.925 and admitted that if he thought the SP would drop he wouldn't have bought them. He would however have let others buy the £110k worth he bought instead, after all he needed to get that second placing away.

Stark are optimising a plant that doesn't do what it's supposed to do, they need to get new parts, disassemble, move, rebuild, test and optimise parts of the plant. Can they do it before Sunday and prove it can produce at volume and grade required?

What additional assets does PREM have that would be worth enough to cover the repayment with interest after a placing and leave enough to cover the cash burn Zulu currently has producing a product that potentially nobody wants?

That's some but not all of the negative, just addressing each of your points.

And just to keep all the fanboy comments about me not being invested in check, I bought in again today from the profits from my earlier sale of holdings, took a fivers worth so I'm now a holder again and as a holder I don't believe I'll be making any profits from my investment but as im a cautious investor I only invest what I'm prepared to lose.

Snowking, please enlighten me, the "agreement in principle" as I understand it needs to be signed by the 25th June. That's in black and white in the rns

"Canmax have confirmed that their intention is to continue to support Premier and not to terminate the Agreement providing that an addendum between the parties is entered into on or before 25 June 2023." - I.e they won't terminate before the 25th providing the "agreement in principle" is signed on or before that date.

And in glorious technicolour from George's mouth in the stockbox interview.

I know I don't see things through your rose tinted glasses but please take this opportunity to educate me.

Acker, Canmax could have walked away weeks ago but chose to stay and have an "agreement in principle" with PREM, the "in principle" part is why they haven't walked away yet. They're giving GR an opportunity to get whatever it is done, be it plant upgrades, a specific volume of product produced by the 25th, a confirmation of grades or something else.

If GR can get the "in principle" element of the agreement done then happy days and all is good for the future.

However both you and I know GR history well! There's one simple question any shareholder should ask themselves "Do you have faith in George Roach to deliver what he says he can?"

History suggests he cannot, his silence on grades produced and plant upgrade progress suggests he cannot. The guy knows Africa and has the contacts to do business there but his track record when it comes to failure is abundantly evident over several historical and current elements of the business. Maybe this time things will be different but I have a feeling that whilst PREM has a potential payday with the EPO if they can't get Zulu producing satisfactory grades at satisfactory volumes then they're screwed. GR hasn't the cash or the capacity to raise enough if this deal goes South. PREM lives or dies on this deal.

Thanks for the update Cszjrh01 much appreciated.

The only idiots here are the ones that are so blinkered they won't consider the possibility that this "agreement in principle" won't go ahead. Every day closer to the 25th is a day closer to no deal being done, every day of silence from GR on grades or plant upgrades os a day closer to no deal.

Shareholders are now held ransom to GR willingness to release grades, updates on plant modifications and revised production projections (assuming acceptable grades).

Buy, Sell or hold? All depends on your appetite for risk but the risk is increasing on a daily basis and anyone with half a brain can see that.

Snowking you forgot to add "in principle" when he said a deal was agreed. Meaning that there's conditions attached that will need to be met before Canmax will sign off on it.

I wonder what those conditions might be 🤔

Stinkymalinky

I'm a bit of a people watcher too. Laverdas use of the English language is excellent, considering that (in my opinion) they aren't a native speaker (apologies Laverda if you are a native speaker). One cannot use anything other than "if" or "hopefully" when it comes to what's in the bags because GR has failed to confirm what's in the bags. "No cash" adequately describes PREMs financial position, George openly admitted that they were cash constrained in interview and the cash burn he stated would suggest that they have virtually "no cash"

If Canmax don't come through then any placing won't be enough to pay the debt owed and leave enough left over to keep PREM in business without some sort of asset sale. Zulu is the only current asset potentially worth anything to anyone if George needs to raise additional funds to keep the company in business.

Mikeepikee1017,

Problem is that whilst PREM has lithium in the ground (I don't dispute that), can they produce spodumene at a grade and quantity sufficient for it to be economically viable for Canmax to buy and ship to China for processing?

Someone earlier today mentioned the Stockbox interview where George stated he would have the lab results imminently (or words to that effect). If that's truly the case then why has he not come forward and released the information on the grades? Is it because they're so bad that he knows Canmax won't buy whatever he is producing? Or is he a liar and doesn't have the lab results over 2 weeks after he said he would have them? Does anyone here honestly believe that he hasn't had enough results from the 200nor so bags that we know he had as of start of June plus any additional bags produced since then?

1 week left to get this deal signed, 5 trading days for shareholders to decide if the potential risk of a likely 50% or more drop in share price is the news is bad vs a potential 50% rise back to 1p if the news is good. Its a binary play right now so do you trust a man who has been proven to mislead shareholders, who has proven his inability to get a mining operation to the point of selling product, who will gladly dilute shareholders by any amount he can? Or do you mitigate your risk?

All the large holders here have averages that could easily sustain a 50% drop and still be sitting on a nice profit which is great. Unfortunately there's plenty of others who invested a current levels and higher who stand to potentially lose a lot of money.

Wolf, I guess some of us aren't putting our money where our mouth is with PREM because as we see it that's the sensible thing to do given what we percieve to be the risk vs reward profile.